Maersk Drilling to Buy Seven New Rigs by 2017

Reuters

Thursday, July 05, 2012

Denmark's Maersk Drilling will invest up to $8 billion to buy seven new oil rigs by 2017, undeterred by waning global energy demand

The drilling unit of A.P. Moller-Maersk plans to place the first order within the second half of 2013 as part of its campaign to double its fleet to 30 over the next five years, says a Reuters report by Randy Fabi.

"We are pursuing this plan despite the world economic situation. So far, we haven't found a reason to change," Claus Hemmingsen said during a visit to the company's office in Singapore.

Oil production is moving deeper offshore with untapped reserves found further and further from the coasts of the United States, West Africa, Brazil and Asia, keeping demand strong for rigs owned by Maersk Drilling, Transocean and others.